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After briefly reviewing the current macrofinancial environment, I intend to concentrate on the G-20 reform agenda. The financial crisis has cost tens of millions of jobs and trillions of dollars in foregone output.

The results of today's term PRA operations are as follows.

In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 20 October (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation as follows.

Recent indicators point to the start of a global recovery. Economic and financial developments have been somewhat more favourable than we expected in July, although significant fragilities remain.

The results of today's TLF operation are as follows.

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent.

The results of today's term PRA operations are as follows.

As indicated in the 22 September announcement, the Bank of Canada today releases the new schedule for Bank of Canada Term PRA liquidity operations commencing the week of 26 October 2009 and running through to the January 2010 Fixed Announcement Date.

The results of today's term PRA operations are as follows.

In accordance with the 22 September Bank of Canada announcement that the Term Loan Facility (TLF) auctions will expire at the end of October, the Bank announced today the details of the final two TLF operations.